Scratching your head?
Scratching your head?
We don’t want you to forget us – or those little second charge niches which can sometimes be so useful.
So we thought you’d appreciate a reminder of what other brokers are finding particularly helpful at the moment.
See below:
Self employed
Need to work on projected accounts? – rates from 3.69%
Contractors
Recently gone contracting – previously employed in a similar role – don’t need accounts.
Debt consolidation
Large loans – 100% debt consolidation no problem.
You can just refer – we do everything (A.R.s as per your networks process).
High LTV
100% LTV – clean cases – 12%
100% LTV with adverse – 14% to 16%
- 4 current mortgage arrears allowed, max 3 missed in last 12, last two payments made.
- Max 3 months unsecured arrears in the last 12 – communications, mail order and utilities are ignored
- No CCJ’s or defaults in last 6 months. 6 to 24 months max 3 units with max combined value of £5000
- Bankruptcy, IVA and Debt Management plans on referral
90% available from 11%
80% from 5.8%
75% from 4.95%
Heavy adverse
75% LTV
Unlimited arrears and CCJ’s accepted.
Last two mortgage payments missed
Security can be residential or BTL
Arrears on other properties owned are accepted
Loans up to £150,000
It’s a little quieter at the moment due to the half term lull so please try us with any capital raising cases you are struggle to place by calling 01902 585052.
01902 585052
Promise Money is a broker not a lender. Therefore we offer lenders representing the whole of market for mortgages, secured loans, bridging finance, commercial mortgages and development finance. These loans are secured on property and subject to the borrowers status.
More than 50% of borrowers receive offers better than our representative examples
The %APR rate you will be offered is dependent on your personal circumstances.
Mortgages and Remortgages
Representative example
Borrow £270,000 over 300 months at 7.1% APRC representative at a fixed rate of 4.79% for 60 months at £1,539.39 per month and thereafter 240 instalments of £2050.55 at 8.49% or the lender’s current variable rate at the time. The total charge for credit is £317,807.66 which includes £2,500 advice / processing fees and £125 application fee. Total repayable £587,807.66
Secured / Second Charge Loans
Representative example
Borrow £62,000 over 180 months at 9.9% APRC representative at a fixed rate of 7.85% for 60 months at £622.09 per month and thereafter 120 instalments of £667.54 at 9.49% or the lender’s current variable rate at the time. The total charge for credit is £55,730.20 which includes £2,660 advice / processing fees and £125 application fee. Total repayable £117,730.20
Unsecured Loans
Representative example
Annual Interest Rate (fixed) is 49.7% p.a. with a Representative 49.7% APR, based on borrowing £5,000 and repaying this over 36 monthly repayments. Monthly repayment is £243.57 with a total amount repayable of £8,768.52 which includes the total interest repayable of £3,768.52.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME
REPAYING YOUR DEBTS OVER A LONGER PERIOD CAN REDUCE YOUR PAYMENTS BUT COULD INCREASE THE TOTAL INTEREST YOU PAY. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Promise Money is a trading style of Promise Solutions Ltd – Company number 04822774Promise Solutions, Fullard House, Neachells Lane, Wolverhampton, WV11 3QG
Authorised and regulated by the Financial Conduct Authority – Number 681423The Financial Conduct Authority does not regulate some forms of commercial / buy-to-let mortgages
Website www.promisemoney.co.uk